Enterprise Products Partners L.P. $EPD is Infrastructure Capital Advisors LLC's 10th Largest Position

Key Points

• Infrastructure Capital Advisors trimmed its Enterprise Products Partners stake by 2.6% in the fourth quarter, but EPD still ranks as its 10th-largest holding and made up about 4.2% of the firm’s portfolio.
• Institutional interest remains significant overall, with hedge funds and other institutional investors owning 26.07% of the company. Several large investors, including Alps Advisors, Morgan Stanley, and Goldman Sachs, increased their positions.
• Analysts are mixed on EPD: the consensus rating is Hold with an average price target of $39.94, while the stock also offers a quarterly dividend of $0.55 per share, or a 6.0% yield.

Infrastructure Capital Advisors LLC lowered its position in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 2.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,340,742 shares of the oil and gas producer's stock after selling 35,201 shares during the quarter. Enterprise Products Partners accounts for approximately 4.2% of Infrastructure Capital Advisors LLC's holdings, making the stock its 10th biggest holding. Infrastructure Capital Advisors LLC owned 0.06% of Enterprise Products Partners worth $42,984,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Alps Advisors Inc. increased its position in shares of Enterprise Products Partners by 0.6% in the fourth quarter. Alps Advisors Inc. now owns 42,639,131 shares of the oil and gas producer's stock valued at $1,367,011,000 after buying an additional 260,305 shares in the last quarter. Morgan Stanley increased its position in shares of Enterprise Products Partners by 4.8% in the fourth quarter. Morgan Stanley now owns 19,116,333 shares of the oil and gas producer's stock valued at $612,870,000 after buying an additional 883,983 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of Enterprise Products Partners by 12.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 18,163,343 shares of the oil and gas producer's stock valued at $582,317,000 after buying an additional 1,940,583 shares in the last quarter. Energy Income Partners LLC increased its position in shares of Enterprise Products Partners by 0.6% in the third quarter. Energy Income Partners LLC now owns 14,705,122 shares of the oil and gas producer's stock valued at $459,829,000 after buying an additional 80,884 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Enterprise Products Partners by 1.9% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,570,499 shares of the oil and gas producer's stock valued at $361,810,000 after buying an additional 214,995 shares in the last quarter. Hedge funds and other institutional investors own 26.07% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on EPD shares. Citigroup restated a "buy" rating and issued a $44.00 price target (up from $39.00) on shares of Enterprise Products Partners in a research report on Friday, May 1st. Wolfe Research upgraded Enterprise Products Partners from a "strong sell" rating to a "hold" rating in a research report on Tuesday, April 21st. Barclays lifted their price objective on Enterprise Products Partners from $38.00 to $39.00 and gave the stock an "overweight" rating in a research report on Thursday, March 5th. Stifel Nicolaus lifted their price objective on Enterprise Products Partners from $41.00 to $42.00 and gave the stock a "buy" rating in a research report on Wednesday, April 29th. Finally, Morgan Stanley reissued an "underweight" rating and issued a $43.00 price target (up from $42.00) on shares of Enterprise Products Partners in a research note on Wednesday, May 20th. Nine research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $39.94.

Enterprise Products Partners Stock Performance

Shares of NYSE:EPD opened at $36.47 on Thursday. The company has a market cap of $78.83 billion, a P/E ratio of 13.51, a PEG ratio of 1.30 and a beta of 0.49. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.61 and a current ratio of 0.91. Enterprise Products Partners L.P. has a one year low of $30.01 and a one year high of $40.17. The business's 50-day simple moving average is $37.93 and its 200 day simple moving average is $35.78.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last announced its earnings results on Monday, April 27th. The oil and gas producer reported $0.68 EPS for the quarter, missing the consensus estimate of $0.71 by ($0.03). The company had revenue of $14.39 billion for the quarter, compared to analysts' expectations of $13.62 billion. Enterprise Products Partners had a net margin of 11.45% and a return on equity of 19.53%. The business's quarterly revenue was down 6.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.64 earnings per share. On average, sell-side analysts forecast that Enterprise Products Partners L.P. will post 2.98 earnings per share for the current fiscal year.

Enterprise Products Partners Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Thursday, April 30th were issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 6.0%. The ex-dividend date was Thursday, April 30th. Enterprise Products Partners's dividend payout ratio (DPR) is presently 81.48%.

Insider Activity at Enterprise Products Partners

In related news, CEO Aj Teague bought 2,665 shares of the company's stock in a transaction that occurred on Friday, March 20th. The shares were acquired at an average cost of $37.55 per share, for a total transaction of $100,070.75. Following the acquisition, the chief executive officer owned 77,576 shares in the company, valued at $2,912,978.80. This represents a 3.56% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 32.60% of the company's stock.

Enterprise Products Partners Company Profile

Enterprise Products Partners L.P. NYSE: EPD is a Houston-based master limited partnership that provides midstream energy services across North America. The company owns and operates an extensive network of pipelines, storage facilities, processing plants and export terminals that transport and handle natural gas, natural gas liquids (NGLs), crude oil and refined and petrochemical products. Its core activities include gathering and transportation, fractionation of NGLs, natural gas processing, crude oil and condensate pipelines, and marine and terminal services that enable domestic distribution and exports.

Enterprise serves a diverse set of customers including producers, refiners, petrochemical companies, marketers and end users.

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